The Compound and Friends
How Neil Dutta Predicted "No Landing"
Jan 26, 2024
Neil Dutta, an expert in economics and finance, joins Michael Batnick and Downtown Josh Brown in episode 127 of The Compound and Friends. They discuss the resiliency of the US economy, the Fed's next move, the housing market, politics and the market, when sell side research is most useful, and more! They also explore the potential changes in global markets and the impact on large cap tech companies. Additionally, they delve into social media management, consumer behavior, and the correlation between consumer sentiment and election outcomes.
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Quick takeaways
- The resilience of the US economy is evident through continued consumer spending despite increased prices, supported by economic and income growth.
- The labor market is rebalancing, leading to positive wage growth and contributing to overall economic growth.
Deep dives
Consumer spending remains strong despite rising prices
Despite the increase in prices, consumers have continued to spend and retail sales have exceeded trend levels, indicating a strong US economy. The resilience of consumer spending can be attributed to continued economic growth and nominal income growth, supporting sustained spending. This suggests that consumers are forward-looking in their spending behavior and are not changing their habits unless faced with job loss.
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